The Dawn of the new Era

Announcements Foundation
1

Today we open the new Era and the first two-month cycle of funding for community contributions (as per PEP60). Please see all relevant details below.

Era Wallets:

To segregate the ERA funds and protect them for the duration of the program, we have created 4 new wallets:

  • A Copper Vault
  • An ETH gnosis safe (both of which will both require ⅔ approval from the Foundation directors)

and two POKT Hot Wallets:

  • One for the Era Budget
  • One for the Era Allocation.

Addresses for each are provided below:

Era Budget Wallets
Copper POKT DAO Vault for Era Budget - 3fb4f59969bf6094f5408dfe107beea4d67810fb
Era Budget POKT Hot Wallet - beb8f9499758186bfb0d0291f31ee93730886b60
Gnosis Era Budget ETH Safe - 0x7bAAf6cAEE858929a68a98a70a428b8BEB4d4093

Era Allocation Wallet
Era Allocation POKT Hot Wallet - 4e67bdb7d099c8a754b22c852a9fe140b7d47849

Keystone Projects

Keystone projects will endeavour to default to open. PNF have created a hub in Notion which is open to all and within it you will find a page for each keystone project that includes a project description, planned sprints/timelines, budgets (which will include drawdowns as they happen) as well as other key documents that are safe to share. The page also includes relevant details around wallets, ways to contribute and key dates and empowered with this information we hope you can find or suggest ways to support these activities directly or through the creation of new Sockets:

Cycle Allocation

The allocation towards community contributions for the current cycle is 2,953,578 POKT calculated as follows:

  • Minting Last 2 months: 36,919,732.8
  • DAO Take (10% Minting): 3,691,973.28
  • Era Allocation (80% DAO Take): 2,953,578 POKT

These funds will support POPs and Sockets for community contributions. You will have seen a POP opened for a Metrics Dashboard already and others will follow soon. You can also view the Sockets page which describes what you need to do to open a new Socket. Although there is only lite permissioning you will still need access to open a Socket so please reach out to @b3n to get yourself set up.


We are really excited about working on these key project in the open and scaling community contributions with the funds entrusted to us. Thanks for your continued support and we look forward to teaming with you all as we start to push hard towards the V1 launch.

PNF

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2

Love to see this, looking forward to the updates to the notion here as we move forward! :100:

Shrek A New Era Finally Begins GIF - Shrek A New Era Finally Begins A New Era GIFs

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3

Great to see the transparency from PNF and the funding commitments to help build our Keystone projects!

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4

Given the impact of ARR, do we expect the next Cycle allocated to be considerably less than the current ~3M POKT?

Assuming we have a target 220k POKT minted per day, the DAO would take 10% = 22k POKT day. *60 = 1,320,000 POKT, 80% of which = 1,056,000 POKT?

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6

In short: Yes

The mechanism was always designed to scale with the price of POKT and to create a sustainable delta between incomings (DAO take) and outgoings (Contributor funds). Expect to see more POPs soon that will make use of the currently available allocation.

Please note also that there are line items for Sockets and IDEAS in the budget which are not impacted by fluctuations in the Era Allocation.

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7

Today we completed the first transactions from the Era Budget and Allocation. This included:

  1. The transfer for 15,820,313 POKT from the DAO to the Copper Vault (3fb4f59969bf6094f5408dfe107beea4d67810fb). This covers the first tranche of committed spending for the Era Budget. This leaves 27,572,829 POKT remaining to be allocated for future Era budget commitments.

Tx hash: https://poktscan.com/tx/41547B53787DFA9004AC4E6844B3570A282FC9563E3FE141D91E8E7A8265AC38

  1. The transfer of 2,953,578 POKT from the Era Allocation to the Era Hot Wallet (4e67bdb7d099c8a754b22c852a9fe140b7d47849) for distribution to community contributors.

Tx hash: https://poktscan.com/tx/22360B879EDA9F3D28423661B37677281490E220BC7DED5BA50960B1E78EC3AD

Commitments made to date can be found in this summarised version here. We will provide the itemised expenses including payments as part of the Cycle reporting in 2 weeks.

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*Note: POKT equivalent calculations refer to POKT price at time of transaction only

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